LA economy not doing great.

[J.Thomas]

Originally Posted by Joe33

Most of my tenants traditionally have been local people or oilworkers or some other year or less tenancy. In 2009 there was a Jump in out of towners but after a year most left.
Over the last 2 years the vast majority of calls for open rentals are from 310, 818, 213,323,626 and 562 area codes. Ill place a add in craigslist and get 10-20 calls per day. The people who do come have some money and are quite willing to pay the 3 months up front that I charge for people without a job. They all say it is less than a months rent in LA.
Many stay and just get a part time job somewhere. Mostly they say they got lucky and sold their house and have a few bucks in the bank and are just going to take some time off before getting a real job but they are not planning to return to LA..

Can they get any jobs there?

I have no idea about economy of Wyoming but i guess it's shallow right

[jm1982]

Originally Posted by Joe33

If the Economy was so great in LA, They why are we being over run with people leaving LA In Wyoming, Montana, South and north Dakota?
A good 75% of my rentals are full of people from Los Angeles. They range from people working at a $15 per hour jobs to 200k per year professionals. They all say the same thing. The LA economy is no good. They have a much better quality of live living here than living in LA and all they talk about is all their friends who are planning to move too?
If the economy was so good they why are all these people wanting out?

I myself have businesses there and every year the profitability falls even thou sales are ok and prices go up. Just cant keep up with the inflation or taxation.

The problem also is that even if the economy is 'strong' , like 'unemployment is low' and factors like that like you said $15 is above minimum wage, but it doesn't go to far in L.A .
There are lot's of jobs demanding many years experience in a specific field and sometimes even degrees paying $15 or sometimes less.

You have businesses in L.A, but live out of state? What type of businesses?

[RaymondChandlerLives]

Originally Posted by J.Thomas

Numbers have been fake for some time not just when they're low.

Just get out there, you'll see.

Go to downtown.

It surely looks different from Pasadena.

Downtown, which commands some of the highest rents in the city, and is loaded with high income earners? That downtown?

Yeah, too bad it's no longer the happening place it was when Reagan was in charge.

Originally Posted by Joe33

If the Economy was so great in LA, They why are we being over run with people leaving LA In Wyoming, Montana, South and north Dakota?
A good 75% of my rentals are full of people from Los Angeles. They range from people working at a $15 per hour jobs to 200k per year professionals. They all say the same thing. The LA economy is no good. They have a much better quality of live living here than living in LA and all they talk about is all their friends who are planning to move too?
If the economy was so good they why are all these people wanting out?

I myself have businesses there and every year the profitability falls even thou sales are ok and prices go up. Just cant keep up with the inflation or taxation.

Anecdotal evidence =fail

The city of Los Angeles alone has a larger population than those four states combined. Not even close. Something tells me you're vastly overstating how many former Angelenos live there.

[Joe33]

Originally Posted by RaymondChandlerLives

Downtown, which commands some of the highest rents in the city, and is loaded with high income earners? That downtown?

Yeah, too bad it's no longer the happening place it was when Reagan was in charge.



Anecdotal evidence =fail

The city of Los Angeles alone has a larger population than those four states combined. Not even close. Something tells me you're vastly overstating how many former Angelenos live there.

A lot live here. But I never said how many. I said I get a lot of calls. There is not much room for anyone here. Lack of housing is the main problem.

There are many Mobile home / RV parks that accept pulled trailers and RV's They are mostly full. Again mainly Californians. These are obvious by the plates.

But im just one guy with one add. Extrapolate that out and it seems like many Californians want to leave.

@JM1982
In have plastic businesses that make and convert plastic bags along with flexografic printing and an injection molding buiness. I also have a Industrial HVAC company. The Industrial HVAC company went from 185 employees to 12 over the last 10 years due to loss of customer base and the Plastic Bag company has dropped from 225 employees to between 30 and 50 depending on work load. It has sales but barely gets by. Again. Loss of Customer base